Fact Check: New Jersey Suffered 11 Credit Downgrades Under Christie

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Fact Check: New Jersey Suffered 11 Credit Downgrades Under Christie
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Bret Baier's claim that New Jersey suffered a credit rating downgrade 11 times during Chris Christie's time as governor is true.

Paul Morigi/Getty ImagesCLAIM: Moderator Bret Baier of Fox News said New Jersey suffered 11 credit downgrades under former Gov. Chris Christie’s leadershipChristie was quick to condemn President Joe Biden’s economic policy at the first Republican presidential primary debate in Milwaukee, Wisconsin, Wednesday evening; meanwhile, the Garden State suffered a credit rating downgrade eleven times during his time as governor.

Persistent underfunding of the state’s public pension system and weak budgetary position contributed to the rating cut. So did the $1.1 billion of annual revenues the state will lose by 2021 because of sales and estate tax cuts passed last year in conjunction with a gasoline tax hike, Moody’s Investors Service said.

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